In yesterday’s market update and financial reporting article titled Sell in May and…Not So Much, Finom Group identified that the colloquialism of sell in may and go away is not really supported by the market’s historic performance in May. Since 1998, the markets have been higher roughly 70% of the time in May. In each…
The “big news”, maybe, headline yesterday was delivered through the Personal Consumption and Expenditures (PCE) data. The inflation gauge rose to a 12-month rate of 2%, hitting the Federal Reserve’s target for the first time in nearly a year. The 12-month increase in core rate of inflation was close behind, rising to 1.9% in March…
About half the S&P 500 companies have reported first-quarter results last week. Approximately 80% of those companies reporting results surpassed analysts’ earnings estimates, better than the 74% four-quarter average. And earnings outperformance was substantial, with companies surpassing average estimates by 9.4%, above the average of 5.1%, according to FactSet data. For the week, however, the…
Last week’s jam-packed earnings releases failed to excite investors even as most reporting companies beat analysts’ estimates. About half the S&P 500 companies have reported first-quarter results during the busiest week of the season of quarterly results, with the earnings growth rate at 22.9%, compared with 18.3% at the end of last week. Approximately 80%…...
Market jitters cooled yesterday with the major averages in rally mode. The Dow rose nearly 240 points or .99% to 24,322 and the S&P 500 was up 27.54 points or 1.04% to 2,666. The Nasdaq outperformed, rallying 115 points or 1.64% on the heels of better than expected tech sector earnings. But even with a…
https://www.youtube.com/watch?v=_e4SFbMcuOI...
After a nearly 200 point drop on the Dow Jones Industrial Average yesterday, the index managed to close higher, ahead of key tech earnings due out after the close. The Dow and S&P 500 finished to the upside by roughly .2% while the Nasdaq finished the session flat or down .05% on the day. Nonetheless…
If you hadn’t heard it by now, the 10-yr. Treasury note achieved a 3% yield during yesterday’s trading session. The move spooked investors, even as most economists, analysts and investors expected to achieve the watermark level and somewhat higher in 2018. With a 3% 10-yr. being achieved investors assumed a risk-off sentiment, sending the major…
It was a topsy-turvy trading session yesterday with the Dow giving up more than 120 points during the trading session before finishing nearly flat. The Dow ended 14.25 points, or less than 0.1%, lower at 24,448.69, closing with losses for a fourth straight session. The S&P 500 index closed virtually unchanged at 2,670.29. The Nasdaq Composite Index…
The prior week for equity investors and the major averages was shaping up to be a strong week, that is, until the markets hit a wall. The latter trading days, Thursday and Friday, found a lack of buyers and more selling pressure, which ultimately drove the S&P 500 below its 50-DMA once again and in…
